National Highways Infra Trust’s investment instrument NHAI InvIT, sponsored by the state-owned National Highway Authority of India (NHAI), was oversubscribed by 6.69 times with a total collection of Rs 5,021 crore. NHIT (National Highways Infra Trust) in a statement said the non-convertible debentures (NCDs) were subscribed 3.16 times in the retail category, 9.74 times in the institutional category, 11.02 times in the non-institutional category and 2.86 times in the high net-worth individual category.
The issue opened on October 17, 2022 and closed on October 18.
According to the statement, the minimum application size was Rs 10,000 (i.e. 10 NCDs).
Lead managers for the issue were JM Financial Limited, A.K. Capital Services Limited, ICICI Securities Limited and SBI Capital Markets Limited, among others.
NHAI InvIT was launched to support the government’s National Monetisation Pipeline (NMP).
InvITs are instruments on the pattern of mutual funds, designed to pool money from investors and invest in assets that provides cash flows over a period of time.
